Air Liquide acquires Lurgi
Air Liquide announces the acquisition of the engineering firm Lurgi, which is owned by Global Engineering Alliance (GEA Group AG), based on an equity value of approximately 550 million euros, which is equivalent to an enterprise value of 200 million euros after including the assumption of Lurgi's cash position as well as its pension and other liabilities. The transaction is subject to approval by the European and American competition authorities.
With nearly 1,300 employees and total sales of around 850 million euros in 2006, Lurgi, a German-based company, has a particularly large portfolio of technologies, from producing hydrogen and synthesis gas to biofuel production processes (bio-ethanol, bio-diesel). Its main engineering centers are situated in Germany, Poland, United States, India and South Africa.
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